Art Market and Collecting Artworks

The Black Artist's role in America is to aid in the destruction of America as he knows it. His role is to report and reflect so precisely the nature of the society, and of himself, in that society, that other men will be moved by the exactness of his rendering, and if they are black men, grow strong through this moving, having seen their own strength, and weakness, and if they are white men, tremble, curse, and go mad, because they will be drenched with the filth of their evil.

Economists' usual list begins with distribution of income. There is no reason to believe that the distribution of income that emerges out of market processes is desirable or acceptable. Unbridled market forces without any role of government might lead to a large number of people living under subsistence. This is an area for government to do something. We know that unbridled economic forces can lead to big booms and big recessions. We need to do something about that. We know that a market can lead to pollution -- and there's an important role for government there. We know that there will be under-investment in public goods. As we think about the innovation economy, we should remember that most of the innovation in the private sector is based on research financed by the government, such as its role in developing the Internet.

The code-speak phrase "limit the influence of market forces" really means to arrange things OTHERWISE by leaving everything to free-market equilibration. A simple illustration is where a state wishes simply to defend its existence. This may call for various concepts of national self-sufficiency so that, for example, Japan may choose not to become entirely an importer of rice!